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AN ORDINANCE TRANSFERRING $145,000 IN
INTEREST REVENUE FROM THE HALF CENT SALES
TAX FUND AND BUDGETING AND APPROPRIATING AN
INCREASE OF $145,000 TO THE MINNEQUA LAKE
CONSTRUCTION PROJECT NO. ML0603
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Minnequa Lake Capital Improvement Project is hereby budgeted and
appropriated an increase of $145,000 to the 2009 Capital Budget.
SECTION 2.
$145,000 in interest revenue is hereby transferred from the Half Cent Sales Tax
Fund to the Minnequa Lake Construction Project No. ML0603.
SECTION 3.
This Ordinance shall become effective upon final passage and approval.
INTRODUCED: September 28, 2009
F-W
Michael Occhiato
A77TSTDD SY:
CITY CLERK
} C � OUNCILPERSON
APPR D' } �-
PRESIDENTaf Cfty Council
PASSED AND APPROVED: October 13, 2009
PED: E D
ED
Background Paper for Proposed
ORDINANCE
AGENDA ITEM # S -6
DATE: SEPTEMBER 28, 2009
DEPARTMENT: PLANNING AND COMMUNITY DEVELOPMENT
JERRY M. PACHECO, DIRECTOR
TITLE
AN ORDINANCE TRANSFERRING $145,000 IN INTEREST REVENUE FROM THE
HALF CENT SALES TAX FUND AND BUDGETING AND APPROPRIATING AN
INCREASE OF $145,000 TO THE MINNEQUA LAKE CONSTRUCTION PROJECT NO.
M L0603
ISSUE
Should the City Council approve an Ordinance transferring $145,000 in interest revenue
from the Half Cent Sales Tax Fund and budgeting and appropriating an increase of
$145,000 to the Minnequa Lake Construction Project No. MI-0603?
RECOMMENDATION
Approval of the Ordinance.
BACKGROUND
This Ordinance will increase the project funds for the Minnequa Lake Park and Open
Space Project by $145,000 to a total of $5,295,000 for the acquisition and construction
of the project. The reason for the additional expenses is due to additional stabilization
expenses and cost for additional fill material required for the reconstruction of
Lakeshore Drive /Palmer Avenue roadways, the stabilization of material for the outdoor
basketball courts, parking areas and the trail /maintenance roads. The additional
stabilization is required primarily on the southeastern portion of the project site. An
additional work change order in the amount of $195,578 was issued to address the
increase in stabilization costs. These change orders have reduced the project funds
needed for repaving the Lakeshore Drive /Palmer Avenue section between Reno
Avenue and Iowa Avenue.
FINANCIAL IMPACT
The additional funding in the amount of $145,000 for the project would be provided from
interest revenue from the Half Cent Sales Tax Fund.